1- Harmonic formation: NICE ABCD Setup that will push the price up as it shown on Daily which is trending upward.
2- There is no MACD Formation of any Divergence.
3- MACD Crossing & Direction is Bearish which make sense, since we hit the bottom of the channel.
4- Stochastic shows oversold which it will confirm the ABCD setup.
5- EMA 20_50_200 are Bearish which make this trade little bit risky.
Weekly Analysis:
Monthly is a bearish candle but all of the candles are spiky.
considering it's in the end of month / last week of month,
it can be okay to go bullish on daily.
05/21/2023
2- There is no MACD Formation of any Divergence.
3- MACD Crossing & Direction is Bearish which make sense, since we hit the bottom of the channel.
4- Stochastic shows oversold which it will confirm the ABCD setup.
5- EMA 20_50_200 are Bearish which make this trade little bit risky.
Weekly Analysis:
Monthly is a bearish candle but all of the candles are spiky.
considering it's in the end of month / last week of month,
it can be okay to go bullish on daily.
05/21/2023